Public Employees Retirement System of Ohio Makes New $1.21 Million Investment in Imperial Oil Limited (NYSEAMERICAN:IMO)

Public Employees Retirement System of Ohio bought a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 17,180 shares of the energy company's stock, valued at approximately $1,210,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. K2 Principal Fund L.P. bought a new stake in Imperial Oil during the third quarter valued at $634,000. XTX Topco Ltd boosted its position in shares of Imperial Oil by 17.5% during the 3rd quarter. XTX Topco Ltd now owns 8,269 shares of the energy company's stock valued at $583,000 after purchasing an additional 1,230 shares in the last quarter. National Bank of Canada FI increased its holdings in Imperial Oil by 13.3% in the third quarter. National Bank of Canada FI now owns 751,038 shares of the energy company's stock worth $52,885,000 after purchasing an additional 87,914 shares in the last quarter. Wellington Management Group LLP increased its holdings in Imperial Oil by 104.0% in the third quarter. Wellington Management Group LLP now owns 60,736 shares of the energy company's stock worth $4,278,000 after purchasing an additional 30,965 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Imperial Oil by 1.6% in the third quarter. Stifel Financial Corp now owns 100,050 shares of the energy company's stock valued at $7,049,000 after buying an additional 1,543 shares during the period. Institutional investors and hedge funds own 20.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on IMO shares. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a research report on Thursday. Scotiabank reissued a "sector perform" rating and issued a $110.00 price objective on shares of Imperial Oil in a research note on Wednesday, September 25th. Finally, StockNews.com cut Imperial Oil from a "buy" rating to a "hold" rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Imperial Oil has an average rating of "Hold" and an average price target of $109.00.

Imperial Oil Trading Down 1.2 %

IMO traded down $0.78 during trading on Friday, hitting $61.73. 880,512 shares of the stock traded hands, compared to its average volume of 413,228. Imperial Oil Limited has a 12-month low of $54.58 and a 12-month high of $80.17. The stock has a market capitalization of $31.64 billion, a P/E ratio of 9.20 and a beta of 1.42. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.4304 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 annualized dividend and a yield of 2.79%. Imperial Oil's payout ratio is 26.38%.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.